Integrated circuit (IC) chip cards are increasingly utilized as payment cards (e.g. credit cards, debit cards, store-value cards, etc.). In that regard, card issuer payment institutions issue chip cards that each have a corresponding specific payment account administered by or on behalf of the card issuer. For example, banks issue chip cards to customers having payment accounts administered by the banks.
With the increased use of payment chip cards, attendant security risks continue to escalate. Such security concerns exist in relation to fraudulent use of lost and stolen payment chip cards, and in relation to the wrongful obtainment of proprietary payment account-related data transmitted between a payment chip card and chip card reader during use of the payment chip card. In the later regard, wrongfully obtained, proprietary payment account-related data may be utilized in fraudulent transactions that involve charges to a payment account without use of an associated payment chip card (e.g. on-line payment transactions).
To address such security concerns, numerous data encryption solutions and elaborate IC chip designs have been proposed. Further, recent efforts have explored the viability of utilizing biometric data to authenticate a user of given a payment chip card as being the issuee to whom the payment chip card has been issued for exclusive use by a payment institution. To date, such efforts have not resulted in a practical solution that may be readily implemented in a cost effective manner by the payment card industry.